Bookbuilding IPO | ₹4,473 Cr | Listed at BSE, NSE | Thu, Mar 15, 2018 - Mon, Mar 19, 2018
Bandhan Bank IPO is a book build issue of ₹4,473.02 crores. The issue is a combination of fresh issue of 9.77 crore shares aggregating to ₹3,662.40 crores and offer for sale of 2.16 crore shares aggregating to ₹810.62 crores.
Bandhan Bank IPO bidding started from Mar 15, 2018 and ended on Mar 19, 2018. The allotment for Bandhan Bank IPO was finalized on Mar 22, 2018. The shares got listed on BSE, NSE on Mar 27, 2018.
Bandhan Bank IPO price band is set at ₹375 per share. The lot size for an application is 40. The minimum amount of investment required by an retail is ₹15,000 (40 shares) (based on upper price). The lot size investment for sNII is 14 lots (560 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (2,680 shares), amounting to ₹10,05,000.
Axis Bank Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Bandhan Bank IPO RHP for detailed Information.
IPO Open
Thu, Mar 15, 2018
IPO Close
Mon, Mar 19, 2018
Issue Price
₹375 per share
Market Cap (Pre-IPO)
₹44,730.19 Cr
| IPO Date | 15 to 19 Mar, 2018 |
| Listed on | Tue, Mar 27, 2018 |
| Face Value | ₹10 per share |
| Price Band | ₹370 to ₹375 |
| Issue Price | ₹375 per share |
| Lot Size | 40 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 11,92,80,494 shares (agg. up to ₹4,473 Cr) |
| Fresh Issue | 9,76,63,910 shares (agg. up to ₹3,662 Cr) |
| Offer for Sale | 2,16,16,584 shares of ₹10 (agg. up to ₹811 Cr) |
| Share Holding Pre Issue | 1,09,51,41,034 shares |
| Share Holding Post Issue | 1,19,28,04,944 shares |
| BSE Script Code / NSE Symbol | 541153 / BANDHANBNK |
| ISIN | INE545U01014 |
Bandhan Bank IPO comprises a total issue size of 11,92,80,494 shares. Out of which, 5,96,40,246 (50.00%) are allocated to QIB, 1,78,92,075 (15.00%) allocated to NII 4,17,48,173 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 5,96,40,246 | 50.00% | NA |
| − Anchor Investor Shares Offered | 3,57,84,147 | 30.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 2,38,56,099 | 20.00% | NA |
| NII (HNI) Shares Offered | 1,78,92,075 | 15.00% | NA |
| Retail Shares Offered | 4,17,48,173 | 35.00% | 10,43,704 |
| Total Shares Offered | 11,92,80,494 | 100.00% |
Investors can bid for a minimum of 40 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 40 | ₹15,000 |
| Retail (Max) | 13 | 520 | ₹1,95,000 |
| S-HNI (Min) | 14 | 560 | ₹2,10,000 |
| S-HNI (Max) | 66 | 2,640 | ₹9,90,000 |
| B-HNI (Min) | 67 | 2,680 | ₹10,05,000 |
Bandhan Bank IPO raises ₹1,341.91 crore from anchor investors. Bandhan Bank IPO Anchor bid date is March 14, 2018.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Mar 14, 2018 |
| Shares Offered | 3,57,84,147 |
| Anchor Portion (₹ Cr.) | 1,341.91 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Apr 21, 2018 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Jun 20, 2018 |
Incorporated in 2014, Bandhan Bank Limited is Kolkata, West Bengal based commercial bank focused on micro banking and general banking services. Bandhan Bank has a license to provide banking services pan-India across customer segments. Bank offer a variety of asset and liability products and services designed for micro banking and general banking, as well as other banking products and services to generate non-interest income.
With the a network of 2,546 doorstep service centres (DSCs) and 9.47 million micro loan customers, the bank has strong very hold in microfinance. Bandhan bank has 864 bank branches and 386 ATMs serving over 1.87 million general banking customers. Banks distribution network is strong in East and Northeast India, with West Bengal, Assam and Bihar.
Bandhan Bank Products:
1. Retail loans including micro loans, SME loans and small enterprise loans
2. Savings accounts, current accounts and a variety of fixed deposit accounts
3. Other banking products and services including debit cards, internet banking, mobile banking, EDC-POS terminals, online bill payment services and the distribution of third-party general insurance products and mutual fund products.
Bandhan Bank Strengths:
1. Operating Model Focused on Serving Underbanked and Underpenetrated Markets (microfinance)
2. Consistent Track Record of Growing a Quality Asset and Liability Franchise
3. Extensive, Low Cost Distribution Network
4. Provide accessible, simple, cost-effective and innovative financial solutions
5. Robust Capital Base
6. Maintaining focus on micro lending while expanding further into other retail and SME lending
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | For augmentation of the Bank’s Tier – I capital base |
The Bandhan Bank IPO is subscribed 14.56 times on March 19, 2018 4:00:00 PM (Day 3). The public issue subscribed 1.06 times in the retail category, 38.68 times in the QIB category, and 13.89 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 38.68 | 2,38,56,099 | |
| NII | 13.89 | 1,78,92,075 | |
| Retail | 1.06 | 4,17,48,173 | |
| Total | 14.56 | 8,34,96,347 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to the Book Running Lead Managers (including underwriting fees, brokerage and selling commission) | 39.59 |
| 2 | Commission and processing fees for SCSBs | 0.94 |
| 3 | Brokerage and selling commission for members of the Syndicate, Registered Brokers, RTAs and CDPs | 8.99 |
| 4 | Fees payable to Registrar to the Issue | 2.06 |
| 5 | Printing and stationery expenses | 4.00 |
| 6 | Advertising and marketing expenses | 19.79 |
| 7 | Others: Listing fees; SEBI, BSE and NSE processing fees; Fees payable to Legal Counsels; and Miscellaneous | 20.98 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹375.00 | ₹375.00 |
| Open | ₹485.00 | ₹499.00 |
| Low | ₹455.00 | ₹455.00 |
| High | ₹498.40 | ₹499.00 |
| Last Trade | ₹477.20 | ₹476.85 |
Bandhan Bank IPO is a main-board IPO of 11,92,80,494 equity shares of the face value of ₹10 aggregating up to ₹4,473 Crores. The issue is priced at ₹375 per share. The minimum order quantity is 40.
The IPO opens on Thu, Mar 15, 2018, and closes on Mon, Mar 19, 2018.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Bandhan Bank IPO using UPI as a payment gateway. Zerodha customers can apply in Bandhan Bank IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Bandhan Bank IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Bandhan Bank IPO opens on Thu, Mar 15, 2018 and closes on Mon, Mar 19, 2018.
Bandhan Bank IPO lot size is 40, and the minimum amount required for application is ₹15,000.
You can apply in Bandhan Bank IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Bandhan Bank IPO will be done on Thursday, March 22, 2018, and the allotted shares will be credited to your demat account by Mon, Mar 26, 2018. Check the Bandhan Bank IPO allotment status.
The Bandhan Bank IPO listing date is on Tue, Mar 27, 2018.
